19 September, 2018

Audit woes and reform wrangles

In July 2002 Lord Sharman, a former chairman of KPMG International, conceded in the pages of Accountancy Age, a trade publication for bean counters, that having a public sector body audit lis...
KPMG, Big Four

21 August, 2018

KPMG conflict of interest with Ted Baker results in £3m FRC fine

Accountancy’s regulator has fined KPMG and partner Michael Barradell after they admitted misconduct in relation to the audits of fashion retailer Ted Baker in 2013 and 2014. The Financial Reporti...
PwC

15 August, 2018

PwC heavily criticised for ‘failed’ audit of BHS

PwC's audit of collapsed high-street department store BHS included failings in ethical standards, according to a stinging report from regulators. The report also revealed that Steven Denison, the e...
Financial Reporting Council, Paul George, FRC

31 July, 2018

Strategic report guidance amended to include ‘broader impact’

Revised guidance has been issued by the financial reporting watchdog on the strategic report, in a bid to encourage companies to “consider wider stakeholders and broader matters” impacting perform...
KPMG

2 July, 2018

KPMG chief concedes that public trust in audit is waning

The head of KPMG in the UK has admitted that the Big Four audit firms are losing public trust and that change will be needed. However,
Deloitte, Big Four, audit

29 June, 2018

Deloitte investigated over SIG audit

Deloitte, the Big Four audit firm, is to have its audit of SIG, the building and materials supplier, investigated by a UK watchdog. The Financial Reporting Counci is to examine the audit of the FTS...
KPMG, audit, Big Four

19 June, 2018

Watchdog spotlights KPMG for ‘deterioration’ in audit quality

KPMG, the auditor under investigation for its work on the collapsed construction giant Carillion, has been told by the UK's audit watchdog that half its FTSE 350 audits last year required "more than j...
KPMG, audit, Big Four

12 June, 2018

KPMG fined over audit work at Quindell

The auditor of controversial insurance outsourcer Quindell has been fined more than £3m over its work with the client. KPMG was reprimanded and fined £4.5m (discounted for settlement at £3.15m),...
FRC

4 June, 2018

More powers for FRC receives scant support from company secretaries

Fewer than one-third of company secretaries want the UK's corporate governance watchdog to have more enforcement powers, a survey has found. The poll, carried out by ICSA: The Governance Institute ...
Big Four, PwC, Deloitte, EY, KPMG

17 May, 2018

Big Four auditors ‘prepared’ if regulators push for split

The UK’s largest accounting firms are preparing themselves for a potential breakup of their offerings. After two influential committees of MPs